MARKETS
MUTUAL FUNDS
Big investments in mutual funds — Loaded against the retail customer
HOW would you react to the news that over a third of your mutual fund's assets are held by just one investor? Such instances of big-ticket investors holding a significant portion of the NAV of a mutual fund are not ...
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Why big investors bring in big risks
HOW do big ticket investments affect you as an investor? The impact of big-ticket investments on a fund is neither easily quantifiable nor readily visible, but it can influence returns significantly over the long term. ...
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Alliance Buy India: Sell
INVESTORS can cut exposures in the Alliance Buy India Fund, which focusses on the consumer and healthcare sectors, to take advantage of the improvement in the NAV by about 65 per cent over the past year. The fund has ...
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Prudential ICICI Flexible Income Plan: Avoid
PRUDENTIAL ICICI Flexible Income Plan returned 16 per cent since its launch last September. The holding period return does not, however, capture the high fluctuation in monthly returns due to the fund's aggressive ...
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HDFC Mutual Fund launches MIP
HDFC Mutual Fund has launched a monthly income plan, which will be open for subscription in the initial offer period between November 17 and December 8, 2003. The fund offers a Short-Term Plan and a Long-Term Plan. ...
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Canexpo: Pare exposures
INVESTORS in Canexpo can consider reducing their exposures to the fund. While its net asset value rose about 88 per cent last year, significant risks were taken by the fund to achieve this return. Importantly, ...
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Sundaram Select Focus: Hold
INVESTORS in Sundaram Select Focus can retain their investments. The fund has piggy-backed on the stock market rally of the past one year, doubling its NAV over this period. The portfolio strategy revolves around ...
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Tech funds in a new avatar
IF YOU needed any confirmation of the risk involved in investing in sector funds, the changes made or planned in a few tech sector funds should drive home the point. A few technology funds are now being restructured and ...
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STOCKS
Escorts AGM on Dec 19 for delisting shares
NEW DELHI: Escorts Ltd is planning to delist its shares from the four regional stock exchanges and seek approval for a change in authorised share capital of the company at its annual general meeting (AGM). The AGM is scheduled on ...
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TECHNICAL ANALYSIS
Wipro in a positive orbit
Wipro (Rs 1538): The near-term outlook appears positive. A move above the near-term resistance level of Rs 1570 would help the stock touch the immediate price target of Rs 1700-1720. Only a drop below Rs 1420 would negate the positive ...
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Focus of the week
Orchid Chem (Rs 183.6): The outlook for the stock is positive. A move to the Rs 240-250 range appears likely. Only a drop below Rs 164 would blunt the positive outlook and could push the stock down to the Rs 140-150 range. However, the ...
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Query corner
I am holding City Union Bank (bough at Rs 54). Kindly indicate the outlook for the company. — Srikanth Matrubai City Union Bank (Rs 54.1): The near-term outlook does not appear too positive. The stock has been stuck in a ...
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Near-term strength
Preferred view: The market sentiment remained distinctly bullish during the week and the index ruled firm in line with last week's expectation. The near-term outlook remains positive. A move to the 1675-1700 levels appears likely. A close ...
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STOCK MARKETS
Will the November effect last?
The November effect usually adds 13 per cent to the Sensex between October and February. That has been the case the past five years. If it happens this year too, it could put stock prices out of tune with their fundamentals. Picking stocks with limi ted downside risk is, thus, important now.
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On the move
Tata Infotech (Rs 381): The stock rose 18.7 per cent on the back of good earnings growth in the recently concluded quarter. Reliance Capital (Rs 106): The stock appreciated 21.7 per cent on market talk that the company is planning ...
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DERIVATIVES MARKETS
Stock speed and option time decay
FUTURES contracts have become costly because of the ad hoc margins imposed by the National Stock Exchange (NSE). You will now have to deposit an initial margin of Rs 5 lakh to buy/sell one contract of Tata ...
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Bullish undertone prevails
ACC and Gujarat Ambuja saw heavy build up in open positions, indicating a fresh momentum for the cement sector.
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Position limits & violations
PRISM (Parallel Risk Management System) is the real-time position monitoring and risk management system for the Futures and Options market segment at NSCCL. The risk of each trading and clearing member is monitored on a real-time basis and ...
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RECOMMENDATION
GlaxoSmithKline Pharma: Buy
INVESTORS with a long-term perspective can contemplate exposures in the GlaxoSmithKline Pharma stock, which trades at about Rs 495. Business Line had recommended `Buy' on the stock several times, the most ...
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Bharat Earth Movers: Buy
EXPOSURE can be considered in the BEML stock which trades at Rs 215, considering the bright business prospects ahead, the comfortable order book position and the improvement in operating parameters. Despite the ...
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Television Eighteen: Hold
SHAREHOLDERS of Television Eighteen (TV 18) can stay invested in the stock as it holds potential for upside despite the sharp run-up in its price this year. The company operates the CNBC-TV 18 channel that caters to ...
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Corporation Bank: Book profit
SHAREHOLDERS in the stock of Corporation Bank can consider reducing their exposures. They can utilise the run-up in stock price over the past 12 months to book profits. The stock now trades at 1.2 times its book ...
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Tata Infotech: Hold/Buy on decline
BUOYED by an improvement in fundamentals, shareholders can retain their investment exposures in Tata Infotech. Investors with a high-risk appetite may use any declines in the stock's price (10 per cent from current ...
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Hero Honda: Buy
AFTER passing through a rough patch in recent quarters, Hero Honda appears to be headed towards better times. The recent launch of two models has met with reasonable degree of success. This has helped the company stage ...
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Rain Calcining: Long-term buy
LONG-TERM exposures can be considered in Rain Calcining at Rs 25. Business Line's earlier recommendation was at Rs 18 in June. We reiterate our recommendation on the back of increasing demand for aluminium and rising alumina prices (75 per ...
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Sundram Fasteners: Buy
LONG-TERM investors could include this stock in the portfolio. Apart from the sustained improvement in automobile production, quite a few developments in the recent past would keep the market interested in the Sundram Fasteners stock. With a ...
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IPOS
IPO financing to the fore — Funds offered to investors at 14-20 pc interest
INVESTORS are flocking to financiers for money to subscribe to new equity issues that are hitting the street, thanks to a booming stock market. The success of a slew of public offers beginning with the mid-year initial public offer (IPO) of ...
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Indraprastha Gas: Subscribe
INVESTORS can consider subscribing to the Indraprastha Gas Ltd (IGL) offer being made at the price band of Rs 40-48 per share of Rs 10 each. The price band translates to a price-earnings multiple of 8-10 times the ...
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Indraprastha Gas IPO oversubscribed on first day
INDRAPRASTHA Gas Ltd's (IGL) initial public offer of equity shares has been oversubscribed by nearly 138 per cent on the first day itself. The issue, which opened on Friday, will close on December 5. Mr Ankush Pitale of JM Morgan Stanley Pvt ...
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